§ Mr. O'SHEEasked the Chancellor of the Exchequer in what manner the value of the property transferred by voluntary disposition inter vivos under Sub-section (1) of Section 74 of the Finance Bill is to be 184W ascertained; and whether, in the case of a farm sold to the tenant under the Land Purchase (Ireland) Acts, the value is to be ascertained in the same way as it is ascertained for purposes of Death Duties, and, if not, by what method?
§ Mr. LLOYD-GEORGEReasonable evidence of the saleable value of the property conveyed or transferred will be required. In the case of a farm sold to the tenant under the Land Purchase (Ireland) Acts, the value of the property voluntarily transferredinter vivos for the purpose of assessing Stamp Duty under Clause 74 (1) of the Finance Bill, is the full saleable value in each case. The provisions limiting the principal value for the purpose of assessing Death Duties do not apply to the Stamp Acts.